The Finance Minister stressed that the country would take advantage of low-interest rates.
US Treasury Secretary Steven Mnuchin said on Monday that he does not see the need to buy back debt, and said that he plans to borrow funds on a long-term basis to keep interest rates low. At the same time, the country continues to struggle with the coronavirus pandemic.
“One of the reasons that I am comfortable with the idea of spending all this money is that interest rates are meager. And we use long-term rates,” Mnuchin said in an interview with CNBC, adding that the country plans to refinance all its debts to secure low rates. – Because of the amount of debt available in the short term and the amount of debt we use to cover these deficits, I believe we have a tremendous opportunity to buy back debt without having to.”